New NSW Gov stimulus draws buyers to Sapphire Apartments in Sydney Olympic Park
Prospective buyers eyeing the Sapphire Apartments in Sydney's lifestyle-focused Sydney Olympic Park precinct can now leverage the NSW Shared Equity Home Buyer Helper scheme for their purchase.
Apartments at Sapphire fall under the $950,000 cap for the scheme and have proven sought-after under the new government initiative to address the challenges faced by specific demographics who may struggle to secure traditional mortgage approvals due to their circumstances.
The NSW Shared Equity Home Buyer Helper scheme offers crucial support to single parents, individuals aged 50 and above, first home buyers employed as early childhood educators, teachers up to Year 12, nurses, midwives, paramedics, and NSW police officers, as well as victims and survivors of domestic and family violence.
Eligible participants can purchase an apartment at Sapphire apartment with only a two per cent deposit and receive government assistance of up to 40 per cent of the property's purchase price, serving as equity retained by the government until the property is sold or the participant's eligibility for Shared Equity ceases.
To access the NSW Shared Equity Home Buyer Helper for Sapphire Apartments, interested buyers need to assess their eligibility through one of the two lending partners, Bendigo Bank or Unity Bank. Upon confirmation of eligibility, applicants can proceed to apply for the scheme through Revenue NSW.
Designed by architecture firm KANNFINCH, Sapphire Apartments comprises 95 one, two, and three-bedroom apartments spread across 10 levels next to the thriving Sydney Olympic Park precinct.
Sapphire Apartments offers modern and affordable open-plan designs that feature a neutral palette on generous living spaces, ceiling heights reaching 2.7 metres and floor-to-ceiling windows that accentuate spaciousness and allow natural light and ventilation into the home.
Jason Tan, the Director of Sapphire developer Australia YMCI, believes that homeownership is within reach for those who know where to look.
“We have many owner-occupiers who have purchased a Sapphire Apartment, and some have used the NSW Shared Equity Home Buyer Helper Scheme to fulfill their dreams,” Jason Tan said.
“Prospective purchasers sometimes are not aware they can meet the criteria of government schemes and own their own home. I am in the business of developing thriving communities and it is all about making sure that our salespeople have access to the right information to pass on."
“When you buy an apartment from AYMCI we will help you to achieve your property goals and we can direct you to the right people that will assist and answer your questions so that you can make an informed decision."
Ramon, a nurse at RPA, was a buyer at Sapphire through the NSW Shared Equity Home Buyer Helper Scheme.
Ramon and his family used to live nearby and come to concerts, exercise, enjoy the parks and he knew that it is a great place to live.
“When it first started there was this scheme that was being advertised with Sapphire Apartments … and as a nurse I thought I would qualify at the time. I came to the event, saw the apartments, and thought this is a great place to live and raise a family,” said RPA nurse Ramon.
“At the end of the financial year we did the numbers and we qualified. During the event we didn’t, but when the income threshold was increased to $124,000, we were able to.”
Sapphire Apartments is strategically located in Sydney Olympic Park, halfway between two of Sydney's biggest CBD's in Sydney and Parramatta each just a 20-minute commute.
Australia YMCI is hosting a “Final Sapphire Sellout Party" on May 8 from 5pm in the central courtyard in Sapphire at 2 Honeyeater Street Lidcombe opposite Sydney Olympic Park, where prospective buyers can come and inspect a two-bedroom apartment in the building and current homeowners in Sapphire can meet their neighbours.
